I've been on craigslist the past few weeks looking to purchase my first road bike and need some advice. About how much is a fair price for this bike? And how do you see it as a commuter bike?

http://sfbay.craigslist.org/sby/bik/1853325559.html

Steel frame, Ultegra 20spd, FSA, Alex, Conti tires.

Frame: Lugged Steel Bianchi frame (TANGE Steel)
Fork: Bianchi steel cross, threaded steerer, fender eyelets.
Headset: Tange 1” threaded.
Crankset: FSA Compact carbon, ISIS, 50/34 Chainrings, 172.5mm
Bottom Bracket: FSA ISIS
Pedals: Steel platform
Front Derailleur: Shimano Ultegra FD6600
Rear Derailleur: Shimano Ultegra RD6600
Shifters: Shimano Ultegra 10-speed
Cassette: Shimano 105, 10-speed, 12-25T
Chain: Shimano Dura-Ace
Hubs: KT Alloy front/ rear hubs – Quick release - Purchased March 28th 2010
Spokes: Stainless
Rims: Alex R-15, 36 Hole, stainless steel spokes.
Tires: Continential Twister Pro 700x37 / Michelin Pro3 race 700x23 2 grey, 1 red
Brakes: Shimano Cantilever brakes.
Brake Levers: Shimano Ultegra shifter/ Brake lever.
Handlebar : Icon bar, 26.0mm, 44cm width.
Stem : 1” Threaded + 7 degree, 100mm
Tape/Grip: Bontrager Cork tape – UNWRAPED
Saddle: Turbo Racing, Cromoly Rail
Seat Post: Micro Adjust Aluminum 250mm X 27.2mm Silver Finish.
Sizes : Large (58cm)
Colors: Binachi Teal Green